Billions of computers and smartphones are compromised as they were built using the same processors designed by Intel, Advanced Micro Devices (AMD) and ARM, where the two flaws were discovered.

Major banks such as DBS Bank, OCBC Bank and UOB said they are installing the software fixes as part of their routine risk management process.

ST understands that banks generally use a mixture of Linux and Windows systems for banking operations, and these systems run mostly on Intel processors.